Notion Capital, a leading VC firm in Europe, has recently announced the successful closing of its newest growth fund, Notion Capital Opportunities III SCSp, at $130 million (€114 million). The fundraising reflects the ongoing resilience and vibrancy of the European tech sector, which continues to attract significant investment.
The primary focus of the new fund is to provide extended support to Notion’s top-performing venture portfolio companies, enabling them to sustain their capital journeys for more extended periods. This strategy is designed to maximize the potential of these companies during critical growth phases. In addition, the fund has allocated nearly double the resources for investments in select external growth-stage companies. Notion aims to identify and support these companies, which they believe possess the potential to become category leaders in their respective markets.
Notion Capital distinguishes itself not only through its robust operational background but also through its deep expertise in the business software sector. The firm prides itself on a value-added investment model, which includes a dedicated and extensive Platform team.
This team collaborates closely with portfolio companies, providing support in various critical areas, including product development, crafting effective go-to-market strategies, talent acquisition, and refining pricing structures. This proactive support helps portfolio companies realize their full potential and also enhances Notion’s ability to access the best new opportunities available in the market. And Notion employs advanced artificial intelligence technologies to improve its digital sourcing and productivity capabilities, enabling the firm to effectively identify, track, and prioritize investment opportunities within its pipeline.
To date, the fund has already made several notable investments. These include continued support for existing portfolio companies, such as Aikido, Upvest, and Resistant AI. Additionally, the fund has initiated a new investment in Nelly Solutions, reflecting Notion’s commitment to diversifying its portfolio. In total, Notion anticipates making around a dozen core investments from this fund, further strengthening its market position. Consistent with Notion’s previous venture funds, Growth Opportunities III is Euro-denominated and based in Luxembourg, which emphasizes the firm’s commitment to a pan-European investment focus.
In a strategic move to bolster its growth efforts, Notion has also brought on Jess Bartos as the firm’s first external partner. Jess, formerly an investment banker at Rothschild, has extensive experience in venture capital and joins Notion from Salesforce Ventures. During her time at Salesforce, she played a key role in leading and supporting various investments, including those in ElevenLabs and Protex AI, a company already part of Notion’s portfolio. Her background is characterized by a consistent focus on B2B software businesses, coupled with a particular enthusiasm for projects involving artificial intelligence. Jess will work alongside existing Notion partner Stephanie Opdam, who will also concentrate on this fund and its associated strategies.
This appointment represents a significant step for Notion, as it marks the first time the firm’s growth funds will have dedicated leadership resources. This move reflects Notion’s ambition to expand the scope and impact of its growth strategy in upcoming market cycles.
The new fund adheres to the same successful strategy as its predecessors, which have exhibited exceptional performance across various metrics. With artificial intelligence positioned as the driving platform for the upcoming generation of business software companies, the market environment has become increasingly dynamic. Notion identifies opportunities across four key categories: Knowledge (where Software as a Service (SaaS) solutions are accelerated and enhanced by AI), Money (focusing on fintech and related industries), Labor (as AI reshapes the service sector), and Machines (where AI interacts with and learns from the physical world). In the past year, Notion has made investments across all four categories, with a surge in demand also being propelled by European resilience strategies that address critical areas such as cybersecurity, supply chain management, and defense technology.
The diverse investor base for the new fund includes sovereign wealth funds, funds of funds, pension funds, insurance companies, family offices, and high-net-worth individuals from a range of regions, including Europe, the MENA region, and the United States. Looking ahead, Notion anticipates returning to the market with its sixth venture fund in 2026, continuing its commitment to fostering innovation and growth in the tech landscape.
KEY QUOTE:
“I am delighted to announce this, our latest, growth fund. Our team has built a strong brand and reputation, and LP demand for the fund in a challenging fundraising environment is testament to this. We are a diverse team spanning 12 nationalities which gives us extraordinary reach and access across the market with AI driving huge innovation in the software landscape. Whilst the whole team will continue to support activities for this new fund, it is an important milestone to have dedicated resources focussed on it, which is testament to our ambitions for this strategy going forwards. I am delighted to welcome Jess Bartos to our firm where I am confident she has a profound contribution to make.”
Stephen Chandler, Managing Partner at Notion Capital
